Turmeric futures rise on spot demand

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New Delhi | Published: August 20, 2018 2:00:07 PM

Turmeric prices went up by 1.28 per cent to Rs 7,120 per quintal in futures market today after participants built up fresh positions, driven by upsurge in demand in the spot market.

Turmeric, Turmeric prices, Turmeric price rise, futures market, commodities, india(Photo: Express)

Turmeric prices went up by 1.28 per cent to Rs 7,120 per quintal in futures market today after participants built up fresh positions, driven by upsurge in demand in the spot market. Besides, tight stocks position on fall in supplies from growing regions fuelled the uptrend. At the National Commodity and Derivatives Exchange, turmeric for delivery in October rose by Rs 90, or 1.28 per cent, to Rs 7,120 per quintal with an open interest of 3,705 lots. Likewise, the spice for delivery in September rose by Rs 72, or 1.03 per cent, to Rs 7,050 per quintal in 17,680 lots. Analysts said, fresh positions created by participants following uptick in domestic as well as export demand at the spot market against restricted supplies from producing belts, mainly led to the rise in turmeric prices in futures trade.

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